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's is located at 150 golden gate avenue. >> now to the latest on the looming fiscal cliff. that tax and cut measure >> i used to be a business owner are do not want taxes to go of, republicans to not want calkins to go up. despite suffering a major defeat this week, when he couldn't muster enough republican support to pass his own tax proposal, house speaker john boehner says there's still hope. in this week's republican address, boehner urges democrats to work with republicans on if no deal is reached by january 1st, severe cuts and tax increases will take effect sometime during the month. congress is cutting short its vacation to come back to work on thursday. >> a federal judge is givng the okay to b-p's settlement with businesses and people affected by the 20-10 oil spill in the gulf of mexico. under the settlement, b-p will pay close to eight billion dollars to settle economic and medical claims from thousands of businesses and individuals in louisiana, alabama and other coastal areas. aside from seafood industry claims, there is no cap on the amount b-p will pay to those who agree to
substantial snowfall. >> axelrod: jeff, thank you so much. it's nine days now until the fiscal cliff of tax increases and spending cuts. still, congress has gone home for the holidays. and today, president obama and his family arrived in honolulu, where they'll celebrate christmas. the president says he is ready to return to make a deal. retailers called today "super saturday." it is traditionally one of the busiest shopping days of the year. businesses are banking on it because so far this season, sales numbers have not been as strong as many had hoped to see. here's michelle miller. >> reporter: kidding around is a specialty toy store in new york city. you won't find any of this stuff at target, wal-mart? >> no. >> reporter: the owner says today is his busiest day of the year. within the last month, what have your sales been? >> they're up from last year about 5.5%, but some of that is the influence of the early hanukkah. >> reporter: he's doing better than most retailers. shoppertrak, which monitors consumer behavior nationwide, predicted holiday sales growth of 3.3%. they just cut it to
thank you. there are eight days now until the fiscal cliff of big tax increases for most americans. and across-the-board spending cuts in the federal budget. even with congress's adjourned and president obama out of town some lawmakers today talked about a last minute deal. >> my own belief is what we ought to do is take speaker boehner's last offer the president's last offer split the difference. that would be a package of about $2.6 trillion. you couple that with the 1.1 trillion already done. that would be close to the $4 trillion we need to stabilize the debt and begin to bring it down. >> i would vote for revenues including tax rate hikes even though i don't like them, to get a-- to save the country from becoming greece tax rate hikes are part of the solution driven by the president. but he's going to get tax rate hikes. to my republican colleagues, if we can protect 99% of the american public from a tax hike that is not a tax increase in my books. >> jeff: with christmas just two days away last minute gift guire-- buyers are out. today shopper track said saturday was the buse
on the middle class. the fiscal cliff deadline is jab 1st. if no deal is reach by then, income taxes will go up for everyone. >>> it appears that former president george h.w. bush may not make it home from the hospital in time for christmas. the statement released tonight says mr. bush had a few low energy days and he'll stay in the hospital a little longer just adds a precaution, they say. the 41st president has been in the hospital since just after thanksgiving. he was initially admitted for a nasty cough braunbronchitis. >>> still ahead a call for stricter gun control in the wake of the tragedy in newtow >>> the nra argued this week that more guns in schools in the hands of trained professionals could protect america's children. you can see an exclusive interview with the wayne la pierre tomorrow morning on "meet the press" at 10:30 right here on nbc 4. >>> well, what's your excuse? ahead tonight some of the surprising things people will tell their bosses to get the day off from work. >>> plus no more wind. it's now just >>> if you've ever told a little white lie to your boss to get some tim
until tomorrow. >>> solving the fiscal cliff. one millionaire says he is ready for his taxes to go up. his message to the 1%. >>> and we will have the legendary barry manilow join us later in this hour. he will tell us why a jewish boy is singing christmas caroles so much. copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first full prescript
from the largest tax hike in american history was no movement toward a fiscal cliff deal more in the action in the house or senate. the responsibility now to avoid massive taxe and draconian spending cuts reting squarely on the prsident. fox news chief white house correspondent ed henry with our report. >> just as our economy is really starting to recover and starting to see optimistic signs and we have seen actually some upside to from a whole range of areas, including two from including housing, now is not the time for more self-inflicted wounds , seven not the estimate from washington. lou: president obama's top advisers were quick to dump on the speaker come -- declaring he is backed into a corner. >> they went from plan b to plan seal later. the fact that they could not even plan -- pass that was an embarrassment. >> in private the president's advisers admit they are bit more apprehensive firmly believing mr. obama has the upper end of the public. if the market takes the hit to the commander-in-chief we will still face his share of heat for washington this function to may
and it in racing tax brackets on what people earn. why is chained cpi suddenly so vital to the fiscal cliff negotiation? it isn't a spending cut or a tax hike, but it would effectively cut spending and raise taxes on some, saving the government an estimated $300 billion over the next decade. the problem is that what that means is that seniors, the longer they live, the less money they would actually take home. they would see a cut to their benefits and that's what has progressives so upset. >> politically speaking, this was a significant concession from the democrats or was it just an accounting fix? >> well you know, it was both of those things. it is an accounting fix. it is a significant concession from democrats. some democrats who i spoke to said look, maybe i would consider this maybe. but only if we could have some sort of mechanism, ali, that a senior past age 85 who would be facing six or 8% cut in benefits, maybe there would be an adjustment to make sure, especially for people who are very poor, that there would be some sort of safety net. paul krugerman has said liberal firebrand
higher taxes and the fiscal cliff thing and they are not spending so much. if there is a sign next week we could have a deal, perhaps we will see moreshipping. there is going to be a lot of sales after christmas. >>heather: people get their gift cards. and we see that. that will be an important indication. not all hope is lost but we are cutting back and not as much spending as we hopeed. >> not all hope is lost. >>gregg: i am single-handedly holding up the american economy. one man stimulus. >>heather: you can catch brand da every saturday morning at 10:00 a.m. right here. >>gregg: it legal immigrants could get a free pass in the united states as immigration and customs enforcement unveil a new border patrol policy to bypass certain kinds of offenders. dominic is live in our west coast newsroom with more. >>reporter: yes, this policy snuck through hoping people would not notice and now illegal immigrant if they commit a petty crime they are not deported. the aim of homeland security and customs is to consequence trait resources on hunting down the dangerous illegal immigrants, instead,
of the effects of the fiscal cliff and get a tax cut extension for those making $250,000 or less. wealthier americans would pay for. you would avoid the fiscal cliff for now. you kick the can down the road. this is washington dysfunction at its height but it would forestal the cliff >>> i wonder if we are seeing a change to speaker boehner that got his hand slapped by some members of his party. is there long-term damage here? >> the white house is that they don't have a real partner to negotiate with. republicans are facing a reality that the public is supportive of raising taxes on wealthier americans. they are likely to have to support that. the question is always whether boehner is going to move forward without a majority support from his own party on a particular bill that may start from coming from the senate. these are debates that have to still be resolved. even if there is a short-term deal, these big issues over taxes and spending are far from resolved. if we get into the president's second term, they are still going to be occupying him. >> for folks who maybe may not have focused,
before we go over the fiscal cliff and everybody's taxes go up. i'm sure a lot of us feel they shouldn't be taking off. >> let's bring in george stephanopoulos. great to see you, george. things are coming down to the wire. what are the odds they can come up with a deal especially republicans can't agree. >> those talks completely collapsed this week and ended once and for all when john boehner couldn't even pass his backup plan in the house on thursday. the only possibility right now would be some kind of a very small -- some measure that would just extend the tax cuts for everyone earning under $250,000. it should be a lot of protection for a lot of people but even that will be difficult. you get it only if there's a promise not to filibuster that in the senate and the house speaker agrees to take it up. both of those questions are very open right now. >> a lot of open questions and high establishes for a lot of people. let me ask you about another big issue in washington right now. in this toxic environment any chance that the president can make any headway on his desire to change th
in a sense, the fiscal cliff is in a sense artificial, if he has the power to raise taxes next year for six months and then get down to serious negotiations after the congress-- >> and should republicans be willing to raise rates? say we lost the election, now what, we're just going to, we have to do it. >> well, i think if the president had put something that was like $1 of tax increases for every $4 that he was cutting, then there could be an argument for doing that, but he's not there. >> paul: all right, mary, thank you. still ahead, four state department officials were removed from their post after a r r r r r r r >> a scathing report this week blames systemic failures in leadership and management deficiencies at the state department for inadequate security at the u.s. consulate in benghazi before the september 11th attack that killed ambassador chris stevens and three other americans. in testimony before congress this week, two top advisors to secretary of state hillary clinton vowed to do better and to improve security at u.s. diplomatic posts around the world. clinton herself was s
the table. this is not part of the sequester or the fiscal cliff. this is a trillion dollar tax increase over the next decade that just hit. so there's a $20 billion to $30 billion over the next 10 year tax on medical devices that make stents of prosthetic devices -- >> all signed foo law by the president. >> law of the land, 90% of the tax increases to pay for obama care conveniently interestingly took effect, begin to take effect after the president got himself safely re-elected. if you're a poor person and have 7 1/2% of your adjustable gross income used up in medical costs, the president decided the democrats in congress voted to take that -- >> i get your point -- >> average americans who are very sick pay $2 billion to $3 billion more in taxes to pay for obama care. these are tax increases on the middle class, put there by obama. he wants you to talk about taxing the rich as he's busy socking it to the middle class? a luxury of a debate that washington may have, that folks like me on the ground in cities all across america don't have. i've got a balanced budget. but what we've had
. >>> and now, to the fiscal cliff. and we are just about to go over the edge. congress has left for the holidays. if they don't get a deal done soon, tax increases and budget cuts will hit after the first of the year. earlier, republican congressman, steve la tourette said the president has been too focused on tax cuts for the rich. but he did leave the door open a little. >> i'm okay, you president, you can tax the rich people. but come up with some spending cuts, we're borrowing $1 trillion a year and he has not. >> indiana senator joe lieberman said he's more pessimistic than he's ever been that a deal will get done. >> in the aftermath of the house republicans rejecting speaker boehner's so-called plan b, the first time that i feel that it's more likely that we will go over the cliff than not. and that, if we allow that to happen, it will be the most colossal consequential act of congressional irresponsibility in a long time. maybe ever in american history. >> leaders from both sides are expected back in washington on thursday. in india. growing demonstrations after a 23-yea
the problems with the fiscal cliff, the debt deal from last year, the cr -- all of these issues of tax rates and spending are hitting because people do not want to continue to steal from the future to pay for now. host: stephen dinan was the the politics editor at the washington times. he covered the legislature in virginia. he has a bachelor's from the university of virginia. in the new york times this morning, there was an article with the headline, boehner finds the speaker's chair can be lonely. republicans fell 20 votes short of those needed to pass mr. boehner's bill that would make permanent musharraf tax cuts for households under $1 million per year -- make permanent the bush tax cuts for households under $1 million per year. the republican team could not bring enough members on board even though many of those who declined to support the measure told republican leadership that they secretly hoped it would pass. ixion's like some of these guys -- the speaker and the majority -- it sounds like some of these guys who the speaker and the majority leader thought they had the support of we
this fiscal problem that exists, which is even if you resolve the fiscal cliff, we still have a fiscal problem is go in the middle and argue over both tax increases which everybody knows needs to go up in order to fix it and spending cuts and entitlements. >> it may not exist in washington. on your point about dogma, grover norquist, of course, you popularized the no tax pledge for many years. on this plan by the speaker which would have allowed taxes to go up, your group said it wasn't a tax increase and that still wasn't good tough for a lot of house republicans. >> look, let's understand, there is a plan to actually solve the debt that's been run up, the deficits to continue, the entitlement reform and tax reform to get more pro-growth, tax reform, and that's the ryan plan, which has actually passed twice by the house of representatives. people can talk -- >> no support from the president. it's not going anywhere. >> the democrats haven't done a budget in three, four year, haven't put anything forward that deals with entitlements. there's one and only one plan that has actually been passed
republic in washington state has the front-page story on the fiscal cliff called "tax hikes may not hit paychecks right away." it's about how it's already too late for employers to accurately withhold income taxes from january paychecks. and the reno sunday gazette journal has an article entitled "first person: buying a weapon at the reno gun show." the writer chronicles how he went to a gun show and bought a semiautomatic rifle in less than 30 minutes for under $600. the background check took 15 minutes. one gun seller told the reporter rifles similar to the one used in newtown were expected to double in price in the next 90 days. i just finished reading that article. pretty unbelievable. >>> a democratic president at a time of political upheaval passes a major gun-control act in the wake of several shooting tragedies. that may sound like president obama's plan for the next term, but it actually happened 44 years ago. >> today we begin to disarm the criminals and the careless and the insane. and all of our people who are deeply concerned in this country about law and order should hail
of us? the president is standing firm on fiscal cliff negotiations and so much is at stake. why can't both sides reach a compromise? >> charlie, how are you? >> fine, good to be with you. >> great to have you here. good morning. look, they don't seem closer. everybody says they're compromising. i'm curious, do you feel from the president's point of view first that he made a campaign promise about what he would and wouldn't do regarding cuts and taxes and he's dug his heels in, standing firm? >> i think absolutely. he feels like he won a mandate and let's be clear, he won handily. he beat mitt romney handily in the election so he's walking away thinking he's got a mandate and that's why he's deeply dug in. the problem with that mandate is of course to say we want to -- he calls it a balanced approach. that is sort of a vague kind of campaign promise nobody really knows -- it's always sounding good but i don't think people are sure what it means. the problem is on the other side, with the republicans in the house, they have a mandate too. they won too. some of them won by larger margi
in with the fiscal cliff that even if you deal with, for instance, the tax like are supposed to kick in, unemployment is set to -- unemployment extensions are set to expire at the end of the year, what's called the dock fix, sort of makes sure that doctors are paid what they should for folks who are on government health care that is set is to expire. there's also spending cuts that you are set is to kick in there are a lot of things that will happen because of the fiscal cliff. it is very complicated. and right now, a solution is unclear. >> you are making my head hurt, brianna. no offense whatsoever. >> sorry. >> have a daiquiri out there looks absolutely gorgeous. try to have some fun. aloha. thanks very much. >> thanks, miguel. >>> if lawmakers fail to reach a deal by the end of the year, how will automatic tax increases affect your bottom line? we are breaking it down. >>> and is actor ben affleck consider a run for the u.s. senate? we will have his answer to questions put to him today. >>> and a teenage girl shot by the taliban for going to school, we will have an update for you on malala off sa
in the next nine days to avoid the fiscal cliff we ring in the new year with big tax increases and spending cuts. here to talk about what is going to happen or two leading senators. john barrasso, chairman of the republican policy committee. and, from new york, democrat kent conrad, chairman of the senate budget committee. senators, welcome back to fox news sunday. >> thanks for having me. >> chris: before heading to hawaii for christmas the president out a new, stripped-down plan to avert the fiscal cliff. here's what it is, extend the bush tax cuts for people making less than $250,000. extend unemployment benefits for the 2 million people who will run out, next month. and, delay the sequester of $110 billion, in spending cuts, next year. for all of the talk of $4 trillion in debt reduction the plan would only save $800 billion, over ten years. senator conrad, is that the best that washington can do over the next nine days, and can you pass even that? >> look, chris. it may come to that but we can do better. and we should do better. this is an opportunity to do something that would be hug
the fiscal cliff. what does that mean? every single american who pays income taxes will see a tax increase go into effect. we also know there will be a massive sequester. we just evaded the rule on the national defense authorization act, it will have a devastating impact on our national security. increasing taxes on working americans will create a scenario which will hinge on our ability to encourage the kind of domestic product growth that is important for us and for our economic security and overall national security. i think about my former california colleague, please, do what you can to ensure we do not have the sequester take effect. do what you can, and try to make sure hamas you address it and have what is necessary for our national security. as the look at these issues, we are going through a troubling time. we have a divided government. we have a democratic president and a republican house of representatives. i happen to believe that creates an opportunity. i did not vote for barack obama, but i do believe that having a president in one party and a house in another party does create
is the fiscal cliff. president obama addressed the nation saying that he met republicans halfway and still no deal was reached meaning the future for tax cuts is still uncertain. >> reporter: d.c. may be shutting down for christmas but the clock last not stopped running on the fiscal cliff which is closer than ever. no deal was reached this week to keep taxes from going up on everyone. john boehner says he is hopeful that a deal could be reached but in a speech, he continues to hammer away at president obama. >> this was year the size of the debt, all $16 trillion of it surpassed the size of our entire economy. it's a grim milestone, one of many that we'll have to bear if we don't come to grips. the president's solution of raising tax rates would still leave red ink as far as the eye can see. >> the president landed in hawaii for a shorter than usual christmas break. he will return to washington after christmas to walk on the fiscal cliff. he is acknowledging the political reality by pushing a scaled back plan for a tax on the middle class. >> even though democrats and republicans are argu
the development. have a merry christmas, everybody. >>> i'm chris wallace. talks to avert the fiscal cliff sal and washington debates how to prevent more mass murders. with nine days to go, is it still possible to make a deal to head off big tax increases and spending cuts? captioned by closed captioning services, inc. , republican john borasso and democrat kent conrad. >> as the nation mourns the victims of a newtown school shooting we turn to a man of faith for some answers. in these trying times he sees the need for a spiritual awakening. we will discuss the sandy hook massacre and the meaning of christmas. plus, a change at the state department as the benghazi report is finally released. we will ask our sunday panel about the nomination of john kerry to rehe place hillary clinton and where the investigation of the terror attack that killed four americans goes now. and our power player of the week continues his holiday tradition to show respect for veterans. all right now on "fox news sunday." hello again from fox news in washington. at christmas, people who are naughty get coal in their st
an economic crisis from this so-called fiscal cliff. some say no deal is what the country needs to cut spending and raise taxes. what will happen? national correspondent live in washington with the details. good morning, steve. >> good morning, eric. the two sides in the fiscal cliff debate had their say before heading home for christmas, but no deal of course. after house speaker john boehner called off his push for a plan b last week saying the ball is now in the democrats' court. there has been no movement toward any deal. democrats want tax hikes for the wealthy. republicans want spending cuts. and some in the gop say the president doesn't want to avoid the fiscal cliff. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom of the cliff. he gets all of this additional tax revenue for new programs and he gets to cut the military which democrats have been calling for for years and he gets to blame republicans for it. >> president obama for his part said he is optimistic a deal c
to avert somee end-of-year tax hikes associated with tte fiscal -3 cliff. in the next few days i've asked leaders of congress & po work towards a package that -3 prevents a tax hike on iddle class amerrcans, protects million americans and lays the groundwork for further work onn both and deficct reduction. tte remarks came after house ppeakerrjohn boehner failed to -3 pustee enoughhof his party's -&psupport to bring his "plannb" to the floor. is prooosal woold have effectively aisedd taxes only on hose americans making more thannone million & dollars a year. we had a number of our memmees who juss really didn't want to be taxes. the two ides ach left the capitollfor the christmassholidayy, bbaminn the ooher ffr inaction.. democrrts said thursday's faiiure in he house pointed to a need for more compromise by the g-o-p. house message loud and cleaa that a comprreensive solution to the looming fiscal clifffwiil need to bb a bipartisan solution. senate republican leader mitch mcconnnll saiddthe next move &pneedd to come from the president.. he
a fiscal crisis collapsed a so-called plan b after some conservatives balked at p provisions to let tax rates rise on those making over a million dollars. is there a plan c or over the fiscal cliff. dan henninger, editorial board member. mary anastasia o'grady and jason riley. where do we stand right now with the collapse of plan b? >> well, it's no fun being john boehner right now. he's still in a tight spot and the concern that the republicans have is that obama's panel strength and as we go over the cliff and tax rates go up. but i really think the buck stops with the president here. when you go into the negotiating sessions, paul and you're expected to make concessions, but you're expect today get something in return and boehner made a major concession on rights and the president is giving him nothing in return to take that to his caucus and say, this is what happened in the horse trading. it's all or nothing, obama seems determined to humiliate the opposition. >> paul: boehner made two concessions, first 800 billion on the table in revenue and don't raise rates when the president s
and the countdown to the so-called fiscal cliff, just two days until santa, and a little over eight days until taxes go up for everyone if they don't resolve this issue. >>> the last victims from the connecticut school shootings are are laid to rest, as the gun control debate heats up in the nation's capitol. a look at a rally to end gun violence. >> and another crucial game for the skins, trying to make it six wins in a row. a preview of the big one in philly today. we break down their playoff chances. >>> good morning. welcome to fox 5 morning news. i've dave ross. >> and i'm wisdom, good to see you! fun to be here on a sunday. >> we'll have a good time talking redskins. >> it is a meaningful game around christmas time. >>> also keeping tabs on the weather, bothn our area and in philly as well. this is a live look outside at the national christmas tree.got your christmas shopping done? >> of course not! >> make sure you move my name up to the top of the list! >>> a look at the national christmas tree near the white house. fox 5's gwen tolbert is in the weather center right now. how are things look
of the fiscal cliff. the fiscal cliff needs to be avoided. the speaker should bring the middle-class tax cut to the floor of the house for a vote. only has to do is let democrats vote and it will pass. the clock is ticking. there is still time for the speaker to avoid that cliff. the senate-passed bill would protect 90% of small businesses while president obama [inaudible] and that agreement should be comprehensive. simply pass the senate bill. the only reason he worked for a day or two so it would not pass. that did not work either. americans are not fooled by the speaker's thani procedural excuses -- phony procedural excuses. let me be very plain. there is nothing preventing the speaker from taking up our bill and giving middle-class families certainty. this is not a game. there will be very serious consequences for millions of families if congress fails to compromise. there will be serious consequences for our country if congress kills to compromise. -- fails to compromise. it is time for the house republicans to remember what is at stake. $250,000 program would pass overwhelmingly in the
to go over the fiscal cliff, and was it easier for them to go ahead and just let the tax reductions expire and let the sequester take place? >> and by that are you saying you think you wanted the president to go over the fiscal cliff? >> harry reid. >> and if so, do the republicans get the blame, and do you think the president wants to go over the fiscal cliff? >> you know, republicans and democrats are going to get the blame for this. everybody is going to get the blame because it's a spending problem that has been decades in the making. when you look at the trajectory of how many has been spent in this country, you can go back 50, 60 years and see the articulation of where those dollars have been spent, see how that spending escalated coming through the '70s, back down a little bit with reagan, but not enough, and then, of course, when you reduce the taxes, you need to be reducing that spending, so the blame, there's -- there is plenty of blame to go around. i am really concerned that come january 1 you're going to see the taxes go up on people. you are going to see the obama care
think maybe he does want to go over the fiscal cliff. that's how he gets what he wants. higher tax rates on everybody and extra cuts on defense. you know he is a professor. he is a lecturer. i think he is accustomed to telling people what he wants them to know and then eliciting a certain response. in the house we have had bipartisan support to extend taxes, deal with a sequester, the things on harry reid's desk. we would like to see action from the president and the senate. >> congressman blackburn thank you very much. great to see you. we hope you have a very merry christmas. >> thank you. >>> this just into our newsroom. new video of an airstrike in syria. a report that dozens have been killed and many more injured in the attack by the government on a bakery in the town of halfaya. that town was recently taken over by rebels. >>> during the budget meeting, they say the u.s. needs to reexamine how the military plays a role in protecting our diplomats. at a time when our country is looming near fiscal cliff and see -- see questions station is around the bend how do you protect? he is a
striking a deal on the fiscal cliff. a lot of criticism for that. the deal mean there is will be massive spending cuts and massive tax hikes after january 1st. >> what is the reality? we checked in with current san francisco mayor ed lee and former mayor womeny brown. our question on the fiscal cliff, how much of this is the politics and how much of it is show for the public and real deal cutting? >> first of all, none of it is show. it is really politicians trying their best to prevail of what they promised their voters they would do. that is what it is. they are not postponing on purpose. they are going as long as they can. willy brown said, and i agreed, my voters would have to say i didn't make the fight, what i promised to do. >> reporter: what you promised do isn't after you it is down and see the facts isn't exactly the right way to go. what do you do politically then? >> for me i naturally try to get that information out there and let the public and certainly everybody looking at the budget process understand what changed circumstances we face. for me budget has been a proce
of the consequences of going off of the fiscal cliff. in terms of the tax increases, it would mean another $221 billion. .he bush tax cuts expiring i payroll tax relief would expire and raise another $95 billion. i dish the provisions expire -- additional provisions expire for $65 million. the new affordable care act taxes would raise $18 billion. $65 billion in spending cuts for the budget control act, otherwise known as sequestration. $26 billion in emergency unemployment benefits would expire. $11 billion for medicare physician payment cuts. this is also according to reuters. back to the phones. jim from michigan on the line for democrats. how are you? caller: i'm great. host: where is your city in michigan? guest: near notre dame. caller: i have a comment on your previous caller. one of the impressions you get is as if our spending started with obama, the out-of-control spending. that was in place with bush. obama inherited it. we have two wars in iraq and afghanistan. a believer that it seems as if we have no choice did let the fiscal cliff happen. there is no way we can get our spending u
billions of dollars more than even black friday. >>> well, with time running out to avoid the fiscal cliff, democrats and republicans have retreated to their home bases with all signs tonight pointing to us going over that cliff. that means taxes for 90% of us will be going up in days unless an agreement is reached. president barack obama is now in hawaii for christmas with his family. yesterday he urged the congress to adopt a stopgap measure to prevent taxes from rising on income under $250,000 a year and keep benefits flowing to unemployed folks. house speaker john boehner, he's home in cincinnati tonight. he failed to get members of his own party to support his plan b proposal for ending the crisis. today boehner was back on the attack, blaming democrats for the stalemate by refusing to include entitlements in the networkses. >> what the president has offered won't do anything to help our spending problem and address the crippling debt. he wants more spending and tax hikes that will hurt our economy, and he refuses to challenge the members of his party to deal honestly with thentitleme
now after lawmakers took off to go home for the holidays without striking a deal in the fiscal cliff. again, if there's no deal, we see painful tax hikes and massive government spending cuts after january 1st. stay with us when we checked in with san francisco mayor edley and former mayor willie brown. these guys are no strangers. we have the so-called fiscal cliff. with the politics involved here? how much of what we have been seeing is real deal cutting and how much is show? >> first of all, none of it is really show. it's really politicians trying their best to prevail what they promise their voters they would do. that's what that is. they are going as well as they can. the first day as we said something different than willie brown. i immediately agreed. my voters would have to say, i didn't do what i promised to do. >> what if what you promise to do is after you sit down and see the facts and it isn't the right way to go. what do you do politically? >> for me i naturally try to get that information out there but also let the public is certainly everybody looking at the budget pro
cliff," it's already past the deadline for employers to accurately withhold income taxes from january paychecks. this means. at first workers probably won't feel the full brunt of next year's tax increases in their january paychecks. employers are planning to withhold income taxes at the 2012 rates, at least for the first one or two paychecks of the year. things change when the internal revenue service releases income tax withholding tables for 2013. >> president barack obama and first lady michelle obama are wishing americans a merry christmas and happy holidays from hawaii. the obamas departed for their vacation last night and arrived there this morning. the president says the nation should give thanks for veterans and their families and asks americans to "say a prayer for all our troops" - including those spending the holiday in afghanistan >> authorities are saying that prosecutors are deciding whether to p charges over the royal prank phone call that caused a nurse to take her life. this after two australian djs impersonating queen elizabeth and her son. called the hospital that
in cuts. any hope of going over the fiscal cliff must start in the senate. not one democrat would support the idea that we could protect 99% of americans from a tax increase. boehner's plan b i thought made as soon as. to my republican colleagues, the ronald reagan model is if you get 80% of what you want, that's a good day. i like simpson-bowles. the president is going to get tax rate hikes. to my republican colleagues, if we can protect 99% of the public from a tax hike that, is not a tax increase in my book. chuck, maybe you and me and some other people in the senate can find a way to find this on the short term but on the long term there's not going to be a deal >> you think we're going to go over the cliff? >> i think we're going to fall out of the fiscal tree. the big chance at the big deal is at the debt ceiling. that's when we'll have leverage to turn the country around, prevent from becoming greece and save social security and medicare. to anybody listening, i will raise the debt ceiling only if we save medicare and social security from insolvency and prevent this country from be
. in august we passed a bill to extend all of the tax rates. we did deal with the fiscal cliff issues weeks have passed that. it's harry reid and the president that have yet to come up with something. if it was so easy, if they thought they had a solution to it, why didn't on friday they come to the table and actually pass something? the pressure is on them, what can they pass in the senate? >> harold, you know the politics of this but you also know the markets and how they've been reacting and wall street and corporate america more generally. is there new pessimism that we're, a, not going to get a deal and not solve the issue anyway? >> big disappointment. people outside of washington understand clearly. a couple hundred billion over ten years separating both sides. the question becomes can washington still govern itself? two, there's a realization we're in the middle of a small recovery. if we find ourselves not able to resolve this moment, it retards and slows and undermines what we see ourselves doing going forward. finally, for the life of me as someone who sfrd there, it was so distr
reporter john steinhauser for. >> americans are worried about the taxes if the nation falls off the fiscal cliff at the end of the year. seven of ten questioned in our poll says there will be major problems or a crisis in the country if that happens. >> part of what voters they were looking for is some compromise up here. that's what folks want. >> our poll indicates more americans want the republicans than the democrats to compromise more to reach bipartisan solutions. >> the democrat-controlled white house has no plan and offered no plan all year to deal with these looming cuts. >> but the public doesn't seem to agree and more people would blame republicans in congress rather than the president if no deal is reached. one reason why, more people see the views and policies of the gop rather than the democratic party as too extreme. that wasn't the case two years ago. if there's any good news in the poll for the republicans, it's this. a small majority say it's good for the country that the gop controls the house, which suggests the public doesn't want the democrats controlling everything h
. it is serving them selves. >> we are talking about 80 to million of those iacted by the fiscal cliff firasco and many americans may suffer because of it i think to look at what you are saying, - congress is ashamed to bringing uncertainty to americans who rely on tax returns to put back in the economy. i am sure for a lot of these folks that money is spent to pay off bills and holidays and get breathing room. it is it heart breaking. it is true for work wealthy and americans. we talk about how the market is hating uncertainties. it is not the huggies sold. it is government. to tracey's point you have potentially 100 million americans and trillions worth of wealth waiting on government to make arbitary decision . we have rational people here trying to pay their taxs and live their lives and how can they plan rationally . trillions of dollars 15 days out. >> good americans willing to pay their fair share and government had their money for a year and they at any point back. we are looking at a potential delay. it is frustrating . they do deserve their money back. it is disgusting to me. i don't
that try to ban guns. >> the current battle in washington has to do with the fiscal cliff. two senior senators took to the airwaves today to discuss what happens next. democrat chuck schumer and suggested republicans needed to work on a partisan solution and accept the reality of tax increases. republican senator lindsey graham says he does not expect a big deal until the next round of debt ceiling talks. >> our republican colleagues, by refusing to go along with revenues, are risking the fiscal cliff. >> there will not be a big deal. the chance for a big deal is with the debt ceiling. that is one of will have leverage to turn the country around. >> president obama urged congress to get a deal done when they returned from christmas break. president obama was among the dignitaries that attended the memorial service for the senator. the world war ii was the first japanese-american elected to both houses of congress, serving hawaii for 50 years. he died of respiratory complications last monday. he was 88 years old. former president bush is still in stable condition in a houston hospital.
already. the fiscal cliff. it's not a cliff. it's a metaphor that refers to two single acts of congress signed by the president. spending cuts and tax hikes that can be easily changed as they were created. so enough already about a cliff. okay. capitalist of the year, pat? >> french actor gerald depardo. he flees from france to belgium to avoid the income tax. gives up his citizen shap. mort, you ought to take a look at that example. he fled the country. >> i will get back to you. >> mayor bloomberg, who put $250,000 into the maryland same-sex marriage campaign which succeeded. also, he used his money to defeat a pro-gun democratic in california. money well spent by the mayor of new york. >> fed chairman bernanke who saved the financial system which is at the core of capitalism. >> beautifully stated. >> jim demint from his move from the senate to the heritage foundation. i want to tell you mr. capitalist. >> with that salary? capitalist of the year mark zuckerman. for his $200 million contribution to columbia university for their institute for the mind and the brain. congratulations, m
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